Exchange Traded Concepts LLC Has $1.27 Million Stock Holdings in Incyte Corporation $INCY

Exchange Traded Concepts LLC grew its holdings in Incyte Corporation (NASDAQ:INCY) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,617 shares of the biopharmaceutical company’s stock after buying an additional 500 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Incyte were worth $1,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Czech National Bank increased its stake in shares of Incyte by 6.4% in the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock valued at $2,674,000 after buying an additional 2,378 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Incyte by 0.7% in the first quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock valued at $12,954,000 after buying an additional 1,419 shares in the last quarter. Amalgamated Bank increased its stake in shares of Incyte by 1.9% in the first quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company’s stock valued at $1,910,000 after buying an additional 591 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of Incyte in the second quarter valued at $310,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Incyte by 0.8% in the first quarter. Asset Management One Co. Ltd. now owns 90,031 shares of the biopharmaceutical company’s stock valued at $5,451,000 after buying an additional 747 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total transaction of $41,097.39. Following the sale, the executive vice president owned 26,504 shares in the company, valued at $1,818,439.44. This represents a 2.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 3,706 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $67.94, for a total value of $251,785.64. Following the sale, the executive vice president owned 102,886 shares in the company, valued at approximately $6,990,074.84. This represents a 3.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,376 shares of company stock worth $3,859,312. 17.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INCY. JPMorgan Chase & Co. lifted their price objective on Incyte from $67.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. Royal Bank Of Canada lifted their price objective on Incyte from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. BMO Capital Markets reiterated an “underperform” rating and issued a $60.00 price objective (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. UBS Group reiterated a “neutral” rating and issued a $68.00 price objective (up from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus lifted their price objective on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Incyte presently has a consensus rating of “Hold” and an average price target of $83.07.

Incyte Trading Down 2.1%

NASDAQ INCY opened at $84.73 on Tuesday. The stock has a market capitalization of $16.55 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.68 and a beta of 0.75. The stock’s 50 day moving average price is $80.47 and its two-hundred day moving average price is $69.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $87.99.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.